PHILADELPHIA, March 28, 2018 /PRNewswire/ -- PREIT (NYSE:
PEI) announced that Ron Rubin has
decided not to stand for re-election at the Company's Annual
Meeting of Shareholders on May 31,
2018.
Reflecting on Mr. Rubin's departure, Joseph Coradino, PREIT's Chairman and
CEO, remarked, "On behalf of the
entire Company, I want to thank Ron for his many years leading the
Company and on the Board. As a mentor to me, personally, I
learned a lot from Ron and know the lessons will stay with me for
life. We wish Ron continued to success in future
endeavors."
"All of the members of the Board wish to extend their gratitude
to Mr. Rubin for his service to the Company as a Trustee and as the
former Chairman as well as for his years of remarkable dedication
and leadership to the Company and the community," noted
Charles P. Pizzi, PREIT's Lead
Independent Trustee.
Ronald Rubin is a highly
accomplished and well-known leader in the real estate industry. He
served as CEO of PREIT since 1997, when The Rubin Organization
merged with PREIT. He became Chairman of PREIT's Board of Trustees
in 2001. His real estate development accomplishments include
many signature projects such as the redevelopment of the
Bellevue and development of Mellon
Bank Center and his leadership during PREIT's redevelopment of
notable Philadelphia-area retail
properties including Willow Grove
Park, Cherry Hill and
Plymouth Meeting Malls. He served as co-Chairman of the
National Museum of American Jewish History and as a Director of
PECO Energy Company, a subsidiary of Exelon Corporation. He
has also been actively involved with many local organizations in
Philadelphia, including as a
director of the Regional Performing Arts Center, the past chairman
of Center City District, the
former president of the Jewish Federation of Greater Pennsylvania, and a former director of
The Franklin Institute, the
Philadelphia Orchestra, and the United Jewish Appeal.
About PREIT
PREIT (NYSE: PEI) is a publicly traded
real estate investment trust that owns and manages quality
properties in compelling markets. PREIT's robust portfolio of
carefully curated retail and lifestyle offerings mixed with
destination dining and entertainment experiences are located
primarily in the eastern U.S. with concentrations in the
mid-Atlantic's top MSAs. Since 2012, the Company has
driven a transformation guided by an emphasis on portfolio quality
and balance sheet strength driven by disciplined capital
expenditures. Additional information is available at www.preit.com
or on Twitter or LinkedIn.
CONTACT:
Heather
Crowell
SVP, Corporate Communications and Investor Relations
(215) 454-1241
Heather.Crowell@preit.com
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SOURCE PREIT